Political Issues Complicate Russian Gas Price Renegotiations
Posted on September 17, 2012 at 01:56 AM EDT
ISTANBUL--September 17, 2012--Researched by Industrial Info Resources (Sugar Land, Texas)--The growing political dispute between the European Union (EU) and Russia over gas contracts is complicating attempts by German utility firm RWE AG (OTC:RWEOY) (Essen,Germany) to reduce gas import costs. Following the latest decree, which was issued Tuesday from Russia Federation President Vladimir Putin's office, any price change would now likely need explicit Russian government approval. The decree declared that strategic companies will now require approval from the Russian government to provide foreign regulators with any information not already publicly disclosed.